Taylor Swift has been named ‘Woman of the Year for 2014 by Billboard magazine, an honor that goes to a female artist who has “helped and inspired the music industry with her success, leadership and innovation over the past twelve months.”

This is the second time that the 7-time Grammy winner and the best-selling digital music artist of all time received the award making her the first artist to be recognized twice by Billboard. Previous winners include Pink, Beyonce and Katy Perry.

“As one of the most influential artists of her generation, Taylor Swift has seen incredible success on the Billboard charts,” said Janice Min, co-president and chief creative officer of Guggenheim Media’s Entertainment Group which consists of Billboard and The Hollywood Reporter.

“Over the course of her career, she’s charted 60 entries on the Billboard Hot 100 — the most of any female artist since her debut in 2006. We are tremendously excited to be honoring her as the 2014 Billboard Woman of the Year for the second time.”

Swift will receive the prize at the 9th Billboard Women in Music award ceremony on December 12 in New York.